Saturday, August 31, 2013

Stocks to Watch for September 3, 2013

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Zillow Inc (NASDAQ:Z) jumped 83 cents or 0.87%, Friday to close at 96.45, less than $2 below its all-time high and major resistance at 98.40. If the stock breaks its 52-week high in the coming days, we could see the stock reach $100 per share. As long as the stock stays above the support level of 80 and the rising 50-day EMA, the bullish trend remains intact.

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Tesla Motors Inc (NASDAQ:TSLA) jumped 2.94, or 1.77%, Friday to 169, breaking out of a bullish pennant formation on the 2H chart (As I mentioned on Twitter ). The stock hit a 52-week high of $173 on August 26th, but has pulled back the past few days. TSLA is setting up to make a move back to highs and I will be watching. The technical 2H chart shows very strong upward momentum as the stock is trading above all key exponential moving averages with positive technical indicators, such as an upward-trending A/D.

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Charles Schwab Corp (NYSE:SCHW) continues to show relative weakness. The stock rejected the 50-day exponential moving average on Friday at 21.27 and seems to be heading for support in the $20.3-20 zone.

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The stock has spent several days consolidating under resistance at $285. Now Amazon.com, Inc. (NASDAQ:AMZN) shares look headed for support near $270. From the technical chart, both MACD and RSI show bearish sign.

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The Wendy's Co (NASDAQ:WEN) has begun to correct after hitting new 2013 highs last week. Following that move, we can expect a pull back with short-term support at $7.5 and strong support in the $7.25-7.11 zone. I am not suggesting long positions at this time.

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The recent insider buying of 258,361 shares at 1.649 and 338,087 shares at 1.744 is a strong indication that "insiders" are now bullish about the company. If shares of Oncothyreon Inc (NASDAQ:ONTY) continue to get purchased by insiders in large amount, things could get very interesting. When insiders buy shares, it's a strong sign that positive things are coming. This is a company with a $99.22 million market cap. and 69.6 million in cash. From a technical standpoint, a solid base has been established around the 1.60-1.75 zone and I believe that the stock is poised to break through the 1.80 mark soon. I'm currently accumulating this stock.

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Rite Aid Corporation (NYSE:RAD) is still coiling just under $3.62 and appears about ready to make a new breakout soon. Hold the stock with a stop at $3.14 (EMA50)

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Himax Technologies, Inc. (ADR) (NASDAQ:HIMX) The short-term uptrend continues and resistance at $6.25 is weakening. The MACD is about to make a bull cross.

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Disclaimer : This is not an investment advisory, and should not be used to make investment decisions. Information in AC Investor Blog is often opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don't consider buying or selling any stock without conducting your own due diligence.

About Me

I'm a 43 year old Independent Trader using proprietary technical analysis with more than 18 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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Disclaimer: I am a 43 year old Independent Trader using propriety technical analysis with more than 18 years experience of investing in the stock markets. I started this blog in 2006 simply as a way to share my thoughts on the market.Please keep in mind that My blog contains only my personal opinion and is provided for informational purposes only, and no mention of a particular security constitutes a recommendation to buy,sell, or hold that or any other security. My past results are not necessary indicative of future performance.Any trades or investments are committed at your own risk. I am not a professional money manager. Always consult your broker for any of your investment decision.Trade at your own risk. All opinion in this blog is intended for educational purpose only and AC Investor is by no means liable for any potential damages that may be incurred from this information.Trade at your own financial risk as I assume no responsibility for your investing decisions in the markets.